Ginni Rometty: Reinventing Big Blue

Naysayers are ganging up on IBM CEO Ginni Rometty. But her plan to turn around the 103-year-old company just might work.

Ginni Rometty likes to say that there's no such thing as a bad day if you learn from it. And since taking over as chief executive of International Business Machines in January 2012, she has learned a lot. Big Blue's revenue has fallen for eight straight quarters, reaching the lowest level in five years in the first quarter of this year.

IBM (ticker: IBM) is still hugely profitable, of course, earning $18 billion last year on revenue...